2009-05-28:
03:56:11:
The city's actuarial firm Morneau Sobeco is suggesting to council that the pension's benefits and funding policy need to be updated in order to deal with economic uncertainty. The firm made the suggestions yesterday in an open meeting at council chambers. Associate Jeff Penner says simply increasing contributions, reducing benefits, or increasing investment returns is not the answer.
Penner adds the suggestions offered by the union groups last month only delay the problems and are not viable solutions.
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